Changes in Accumulated Other Comprehensive Income by Component (Tables)

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income

The following table provides a summary of the changes in accumulated other comprehensive income for the three months ended March 31, 2019 and 2018:

	Unrealized Gains and Losses on Available-for-Sale Securities1
	Three Months Ended March 31,
	2019		2018
	(in thousands)
Accumulated other comprehensive income — beginning balance	$	158	$	837
Other comprehensive income (loss) before reclassifications	1,419		(1,208)
(Gains) losses reclassified from other comprehensive income2	(3)		70
Net current period other comprehensive income (loss)3	1,416		(1,138)
Accumulated other comprehensive income (loss) — ending balance	$	1,574	$	(301)

1.All amounts are net of tax

2.Realized gains and losses were recorded pre-tax under “Investment and other income” in our Consolidated Statements of Comprehensive Income. For the three months ended March 31, 2019, the Company recorded less than $0.1 million of realized gains from the sale of available-for-sale securities. For the three months ended March 31, 2018, the Company recorded $0.1 million of realized losses from the sale of available-for-sale securities. Refer to Note 9—Fair Value Measurements herein for further information.

3.For the three months ended March 31, 2019 and 2018, the changes in other comprehensive income (loss) were net of a tax expense of $0.4 million and a benefit of $0.3 million, respectively.

Reclassification out of Accumulated Other Comprehensive Income

	Amounts Reclassified from Accumulated Other Comprehensive Income
	2019		2018
	(in thousands)
Three Months Ended March 31,
Gains (losses) from the sale of available-for-sale securities	$	4	$	(89)
Tax (expense) benefit	(1)		19
Net gain (loss) reclassified from accumulated other comprehensive income (expense)	$	3	$	(70)